Summit eyes $1 million mark

Accelerate Okanagan Aims to Surpass $1 Million Milestone with Sixth Annual Okanagan Angel Summit

Accelerate Okanagan hopes to celebrate a milestone this year when it conducts its sixth annual Okanagan Angel Summit.

The tech incubator is hoping to pass the $1 million mark in funding from angel investors since the program was created in 2019. The summit can reach that goal with $200,000 in funding from investors this year.

Accelerate Okanagan is looking for business owners who meet B.C. investor accreditation requirements to take part in the sixth annual event. They will work together to vet companies, complete due diligence and place an investment into one promising startup at a public pitch event. The group usually consists of between 25 and 35 community members who will ultimately pick a winner among the startups that sign up to participate in the summit.

Sixth Annual Okanagan Angel Summit

Photo: Accelerate Okanagan

This year’s summit will run from April 2 to May 23.

“The Okanagan Angel Summit is an approachable and fun way to learn about investing in early-stage ventures because you can start with writing a five thousand dollar or ten thousand dollar cheque and leverage the power of the investor group,” Accelerate Okanagan interim CEO Carollynn Schafer said in a press release. “We are looking for individuals who want to make a difference in our region to be part of an incredible opportunity to learn about angel investment and deploy more capital in the valley.”

The Okanagan Angel Summit has trained 98 investors and supported 200 startups since its inception in 2019, and the businesses that have competed have raised more than $30 million through side investments.

“Beyond the investment, the summit creates real value by allowing individuals with an interest in supporting and building the innovation ecosystem to interact and get to know each other,” Accelerate Okanagan programs director Thuy Tran said. “This is a great year to get involved, as we plan to host more networking opportunities around the finale.”

More information about the Okanagan Angel Summit can be found here.

Original articled story contributed by Okanagan Edge Staff on Okanagan Edge on March 15, 2024.